[TimChallenge] +$44 in my 4k account on FFIE (1.01 entry with 1k shares). Sized down my account to force better habits. Very proud of this trade because of the process I went thru. January was solid profits but after a disappointing day yesterday with -4300 doing very dumb things I needed a reset. The money is not as important as the balance of confidence is. I assure you the money lost will come so much easier by taking the right trades and profits when it is there. That $44 will be applied to my daughter's
[TimChallenge] New week, start from here.....no matter where you are on the journey. No one trade will get you any where near your goal. Run YOUR RACE at YOUR PACE and have a marathon mindset. Best setups only.
[TimChallenge] Contrary to popular belief in this taboo world of penny stocks, I have nothing to watch or scan heading into the evening or morning. Just cleared my entire watchlist beside the overall markets and leaders. Good to do this from time to time so that you are not forcing trades or "making up" setups that are not really there. By doing this it clears my bias and thoughts and helps me start the PROCESS from the beginning.
[TimChallenge] Done for the week squad +3k today +24k on the week. Have a great weekend. Take advantage of the time and use it effectively. Remember life has its uncontrollable moments but most successes and failures happen thru consistent choices. Choose wisely. I'm out
[TimChallenge] Flushed my account to protect Feb gains from slow start in Jan. and accidentally flagged my account PDT as cash now. Likely Won't trade anymore today to let all settle and count my blessings from the screws of last week. +2k on the month and -1k on the yr. Keep adjusting and unlike me on 35k win (unrealized at the time) TAKE PROFIT (will explain in the lengthy vid I referenced last week.) See y'all later today, if not be safe in this choppy ass market.
[TimChallenge] Hey Squad, I will be doing a lengthy video lesson on mindset and understanding the market we are in. Also will be discussing on how to win/lose battles with the focus of winning the war. Reason being is because it is a vivid reality for me as I had a 10k swing to the upside today on a poor trading day yesterday now maintaining my solid month and getting back to the process. I will try to be efficient but is there common topics that some are struggling with that I can discuss?
[TimChallenge] Squad nothing wrong with being quiet and learning. Nothing even wrong with mislead assumptions once or twice per case. But if you are going to keep jumping out the crowd to express an ignorant (meaning no basis of understanding) opinion then you will be chastised. Unlike social media a voice of reason will remain in this room at all times. Too many junk chatrooms out there that don't. Just swallow the pride, put ego away and learn.
[TimChallenge] Solid exit by me on XELA. Could have pressed the trade but as I mentioned the process is more important to me. Took less profit on the trade but I'm telling you that confidence (maintaining and building that) are so crucial to this game Squad. P/L is part of the game but the cornerstone is proper risk management with the right mindset.
[TimChallenge] Don't mistake my next comment for lack of enthusiasm of making money. Please Please Please start to develop your own trading confidence and do not blindly follow gurus or anyone else into trades. This is not a healthy way to learn and will leave you no matter at making CONSISTENT PROFITS ON YOUR OWN. If you don't believe me ask a lot of the 2020 traders what throwing money at the market gets you eventually.
[TimChallenge] Calling it a morning squad. Padding profits. +1100 otd. +25kotm thus far. Only mention to for this reason. When you find yourself successful with plenty left in the day month year you always want to be very mindful of bad habits., over confidence and "lazy trading". Meaning "o I'm up so much I will take the risk" NO NO NO. Stay to the course of the process. Taking questions in the off chat for 15 minutes or so.
Thank you Ellis, great live trading videos, will watch them all!
great explanation of the trade.
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[TimChallenge] Can't stress this enough of being careful on longs in this market. If you are having FOMO then study harder to understand and play both sides of the trade.
[TimChallenge] Squad Dman2020's question to Croock is something we don't do in here. The goal is always to learn from the successful traders and understand why they enter and exit so that you can formulate your own strategy of entry size/ position to make reasonable judgment based on the criteria we study and trade within the patterns.
[TimChallenge] I know everyone expected the month of November to really kick things back into high gear (including me) but a great lesson in not expecting anything from any market but what it presents for us to take advantage of.
[TimChallenge] +29K for the morning. Flat on all positions. Nothing done crazy. All great setups that had great r/r
Very nice risk management and discipline. Very clear explanation for support and resistance. Thanks for the lesson EH.
Ellis, u r the man, that is one of the best videos if not the best, I have seen on any topic. Love the teaching style
Thanks Ellis, great live trade, learning so much from them.
watched again great example
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